Tilray Brands, Inc. (TLRY) Outpaces Stock Market Gains: What You Should Know
Tilray Brands, Inc. (TLRY) closed at $4.03 in the latest trading session, marking a +1.77% move from the prior day. This change outpaced the S&P 500's 0.95% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the company had lost 9.8% over the past month, lagging the Consumer Staples sector's loss of 0.83% and the S&P 500's gain of 0.1% in that time.
Tilray Brands, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Tilray Brands, Inc. to post earnings of -$0.07 per share. This would mark year-over-year growth of 36.36%. Our most recent consensus estimate is calling for quarterly revenue of $157 million, up 10.37% from the year-ago period.
Any recent changes to analyst estimates for Tilray Brands, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.38% higher within the past month. Tilray Brands, Inc. currently has a Zacks Rank of #3 (Hold).
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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